Brazil Regulator May Expand Aracruz Investigation, Estado Says
Brazil’s securities regulator may expand an investigation into currency derivatives transactions at Aracruz Celulose SA that led to a loss of $2.13 billion in 2008 to include more of the company’s former board members, O Estado de S. Paulo reported, citing people it didn’t identify.
The regulator, known as CVM, sought to deepen the investigation after suspending a judgement that was planned for Dec. 8 2010, O Estado said. The accusations may be revised to include all of Aracruz’s former board members, instead of just two, according to the newspaper. There is no estimated date for the new judgement, O Estado said.
CVM didn’t comment on the specific case, according to O Estado.
To contact the reporter on this story: Karen Eeuwens in London at keeuwens@bloomberg.net
To contact the editor responsible for this story: Adriana Arai at aarai1@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.